THE Bangko Sentral ng Pilipinas Department of Economic Research projects January 2019 inflation to settle within the 4.3 – 5.1 percent range.
In a statement, the department said domestic oil price hikes, due to higher international crude oil prices and the second tranche of the excise tax adjustment from the Tax Reform for Acceleration and Inclusion Law, are seen as the primary driver of inflation for the month.
Higher fish and vegetable prices due to colder weather and the annual adjustments in the excise taxes of alcoholic beverages could result in additional upward price pressures.
These may be partly offset by lower rice prices, downward adjustment in electricity rates, and slight appreciation of the peso. (PR)